At the beginning of the year, Butters Company's balance sheet showed current assets of $35,000 and current
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Question:
At the beginning of the year, Butters Company's balance sheet showed current assets of $35,000 and current liabilities of $23,000. During the current year, Butters issued common stock for $4900 for cash and purchased $2800 of inventory on account.
After these transaction were recorded, Butter’s current ratio was:
A) 1.51
B) 1.55
C) 1.66
D) 1.52
Related Book For
Accounting
ISBN: 978-0324401844
22nd Edition
Authors: Carl S. Warren, James M. Reeve, Jonathan E. Duchac
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